Australia Inflation

Australia: Inflation eases in Q1

April 22, 2015

In the first quarter of 2015, consumer prices were stable at the 0.2% recorded in Q4 2014 as market analyst had expected. The quarterly figure mainly reflected higher prices for domestic holiday travel and accommodation, tertiary education, and medical and hospital services. These price increases were partially offset by lower prices for fuel and fruit.

Annual inflation eased from 1.7% in Q4 to 1.3% in Q1, which marked the lowest reading since Q2 2012. Following the drop in annual inflation figures, annual average inflation declined from 2.5% in Q4 to 2.1% in Q1, marking the lowest rate that has been seen since Q2 2013.

FocusEconomics panelists expect that inflation will average 2.6% in 2015, which is down 0.1 percentage points from last month's forecast. For 2016, panelists see average inflation of 2.5%.

Author:Robert Hill, Economist

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